Monday, December 03, 2007

Santander Receives Bid of EUR 1.7 Billion for HQ in Spain

Forbes / Thomson Financial - December 3, 2007

Banco Santander SA has received offers of more than 1.7 bln eur from JP Morgan and Metrovacesa for its Boadilla del Monte headquarters, El Economista reported, citing unnamed sector sources.

Santander could book 1 bln eur in capital gains from the operation, the newspaper said, noting that the sale is set to be closed before Dec 20.

Santander would enter into a 30-year lease-back contract of the property while retaining its right to repurchase, it added. Sphere: Related Content

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